SEOUL, Feb. 22 (UPI) — South Korea recorded a brand new low in childbirths in 2022, its statistics company stated Wednesday, including to considerations over a declining fertility fee that threatens to undercut financial progress and pressure pensions and social welfare applications sooner or later.

A complete of 249,000 infants have been born in South Korea final 12 months, based on provisional data released by Statistics Korea, marking a decline of 4.4% from 2021. Deaths outpaced births for the third 12 months in a row, rising by 17.4% to 372,800.

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In a press briefing, Lim Young-il, head of the inhabitants developments division at Statistics Korea, stated that rising demise numbers have been induced partly by COVID-19 but in addition mirrored South Korea’s ageing inhabitants, which is among the many world’s oldest.

South Korea’s complete fertility fee fell from 0.81 in 2021 to 0.78 final 12 months — that means that for each 100 girls, simply 78 infants are anticipated to be born over their lifetimes.

The determine is the bottom on the earth, roughly half the average fee of the 38 members of the Organization for Economic Cooperation and Development.

Neighboring Japan, which additionally has a quickly ageing inhabitants, had a fertility fee of 1.33 in 2020, based on the newest OECD figures, whereas the United States recorded a fee of 1.64.

A complete fertility fee of two.1 is taken into account the extent wanted to maintain a inhabitants from declining.

The variety of marriages in South Korea additionally fell to 191,697 final 12 months, which Lim stated was the bottom since recordkeeping started in 1970.

“The decrease in the number of marriages probably has an impact on the birth rate as well,” he stated.

“Future projections predict that the total fertility rate will decrease to 0.7 in 2024 and then recover little by little,” he added.

The shrinking numbers of births and marriages in South Korea are pushed by a number of elements, together with excessive housing and training prices and a tough job marketplace for younger folks. The youth unemployment rate was 5.9% in January, in comparison with 3.6% general, however for a number of years prior it hovered across the 10% vary.

Women, particularly, have been more and more reluctant to begin households, as they proceed to face gender inequality and discrimination within the office whereas sustaining the lion’s share of childcare and family tasks.

South Korea has the best gender wage gap within the OECD, whereas The Economist grades the nation final in its “glass ceiling index,” which measures the very best locations to be a working girl.

The South Korean authorities has tried numerous schemes to extend the delivery fee, together with direct money funds. The administration of President Yoon Suk-yeol introduced final 12 months it could increase month-to-month allowances from $230 to $770 by 2024 for households with infants lower than a 12 months previous.

On Wednesday, Prime Minister Han Duck-soo referred to as for an all-out effort to fight the “horrible catastrophe” of inhabitants decline, together with improved childcare providers and labor market reforms.

Statistics Korea projected final 12 months that the nation’s inhabitants will decline from 52 million in 2022 to 38 million in 2070. The United Nations is forecasting the inhabitants will proceed to shrink to less than half by 2100.